Paragraph 8

In Schedule 3 to that Act (revaluation methods), before paragraph 1 insert—

“The default method

A1

The default method is to revalue the benefits in any way in which they would have been revalued if—

(a)

in the case of an occupational pension scheme, the member's pensionable service had not terminated, or

(b)

in the case of a personal pension scheme, contributions in respect of the member had not ceased to be paid.”